KDnuggets : News : 2008 : n06 : item7 < PREVIOUS | NEXT >


Subject: James Taylor on Enterprise Decision Management (EDM)

GP: You have invented the term enterprise decision management (EDM). What is EDM?

Enterprise Decision Management (EDM), or Business Decision Management as it is sometimes known, is an approach for automating and improving high-volume operational decisions. Focusing on
operational decisions, it develops
decision services using
business rules to automate those decisions, adds analytic insight to these services using
predictive analytics and allows for the ongoing improvement of decision-making through
adaptive control and optimization.

The five concepts identified in italics in the definition underlie the approach. Decision Services provide a standard architectural concept to handle decision automation, business rules are the backbone of decision automation while predictive analytics ensure that corporate data is put to work in automated decision making. Finally adaptive control and related optimization techniques ensure that the inherent uncertainties involved in decision making can be managed and that decisions can be improved over time.

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KDnuggets : News : 2008 : n06 : item7 < PREVIOUS | NEXT >

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